The young investor from the New York-based firm, had just managed to close a much-contested deal in an online book store called Flipkart, which he had set his eyes on.

It hadn’t been an easy task. Flipkart's founders, Sachin Bansal and Binny Bansal, had a plethora of investor term sheets to choose from and showed no signs of hurry in deciding.

So much so, that Fixel had to enlist Kalra - whose online travel portal MakeMyTrip Tiger Global he had backed in 2007 - to help make contact with the two IIT- Delhi graduates.

Flipkart had received over half a dozen term sheets from various venture capital investors, mostly at a valuation of around $20 million. But Fixel, snagged the deal with a valuation of over $30 million.

Kalra recalls Fixel telling him that if he was “right about this it doesn't matter if I own a quarter or a third of the company." Tiger Global had in that same year, invested in a Chinese startup called 360Buy, which is now known as JD.com and is currently worth $65 billion.

By 2015, Tiger Global’s investment in Flipkart had ballooned to $1 billion making it one of the firms’s largest and riskiest bets in ecommerce.

In the last 18 months, Fixel has worked hard to derisk this investment. And in recent months has been active in bringing on board a set of new, deep-pocketed strategic investors to Flipkart, including China’s Tencent and now SoftBank.

With SoftBank's $2.5 billion investment in Flipkart, Fixel is now expected to register the biggest exit for an investor in the Indian startup ecosystem - estimated at over $800 million.

Tiger Global will be left with at least about 18% stake in Flipkart after the deal, which will be worth over $2 billion, as per the post money valuation of the company. This partial exit, say industry watchers, could make Fixel more amendable to investing anew in India.

That is set to change. Fixel has started meeting both new companies and is in talks with existing portfolio companies to lead new rounds of funding, said two founders who have held discussions with him.